Electrocoating Market to Grow at 5.29% CAGR to 2021: Analysis of Key Players, Trends, Drivers, & Challenges

The market research report ‘Global Electrocoating Market 2017-2021’aims to offer insights into new business opportunities for companies such as Axalta Coating Systems, BASF, KCC, PPG Industries, and Valspar.

About Electrocoating market

Research Analysts recognizes the following companies as the key players in the global electrocoating market: Axalta Coating Systems, BASF, KCC, PPG Industries, and Valspar.

Analysts forecast the global electrocoating market to grow at a CAGR of 5.29% during the period 2017-2021.

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Commenting on the report, an analyst from Technavio’s team said: “One trend in market is superior performance over other coating techniques. The consumer’s preference is increasing toward electrocoating due to its performance and durability. Electrocoating exhibits superior performance over the other coatings techniques such as powder coating and liquid coatings. Electrocoating produces excellent color and glossy finish with an even and smooth coating film. Electrocoating protects the components from the harsh exterior weatherability and provides them high chemical resistance. This, in turn, increases the operational life of the automobile and other appliances. Electrocoating technique is an eco-friendly process and emits very less amount of VOCs in comparison with the traditional liquid coatings.”

The listed pricing for this Electrocoating Market report starts at $ 3500.
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According to the report, one driver in market is growing demand for electrocoating in automotive industry. The automotive industry is the largest end-user industry for the global electrocoating market. The global automotive industry is growing with significant speed. The industry is expected to grow significantly during the forecast period 2017-2021. In 2016, the global car sales reached to the 76.54 million units, due to increased production in China, India, and Mexico. Shifting customer preferences have led to the growth of the automotive industry with a significant focus on environment and safety concerns.

Further, the report states that one challenge in market is different colors require different processing tanks. During the electrocoating process, the parts or the materials that are to be painted are dipped into an electrocoating bath tank, which consists of paint particles submerged into the deionized water. The electrocoating process is mainly used for the bulk coating of the similar colored part. The electrocoating systems can coat multiple colors but require separate electrocoating tanks. Typically, a multicolor coating process consists of the same pretreatment and bake oven processes, but requires separate electrocoating bath tanks and post rinse sites for each color. The customers can also use a single electrocoating tank, but they have to change the paints each time in and out for different colors. It is also difficult for the manufacturers to change the color and wash the electrocoating tank several times in a process of multicolor electrocoating.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Browse full table of contents and data tables For Electrocoating Market Report of 70 pages https://marketsizeforecasters.com/global-electrocoating-market

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